Alibaba (BABA) commerce chief shifts roles as CEO takes more control of core business

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Go back to Alibaba (BABA) commerce chief shifts roles as CEO takes more control of core business

Alibaba Group CEO Eddie Wu to Head E-Commerce Arm

December 20, 2023 4:02 AM EST

Alibaba Group CEO Eddie Wu to Head E-Commerce Arm

Alibaba's CEO Wu will take over the top role at the companys domestic e-commerce arm.Wu will now also serve CEO of Taobao and TMall Group.... More

Alibaba Group CEO consolidates control of core businesses with new e-commerce role

December 19, 2023 10:03 PM EST

By Casey Hall

SHANGHAI (Reuters) - Alibaba Group said on Wednesday its chief executive would directly oversee its domestic e-commerce arm, with the unit's previous head turning her focus to managing non-core assets as the group combats slower earnings growth.

Group CEO Eddie Wu will take over as chief executive of domestic e-commerce arm Taobao and Tmall Group effective immediately, the company said, boosting his direct control over the group's core businesses.

Wu, who has been Group CEO since September, also took over from previous head Daniel Zhang as the company's cloud business CEO that month. The... More

Alibaba trims stake in Xpeng for second time in December

December 19, 2023 6:09 PM EST

(Reuters) - Alibaba Group reduced its stake in China-based electric-vehicle maker Xpeng for the second time this month, according to a regulatory filing on Tuesday.

Alibaba reported a 9.2% stake in the stock as of December 15, compared with its stake of 12.5% more than a week ago.

The Chinese... More